In a microwave-safe bowl, microwave chocolate and butter on high in 30-second intervals, stirring between each, until chocolate is melted and smooth. Let cool slightly.
In a large bowl, beat cream cheese with a mixer at medium-high speed until smooth. Gradually add confectioners’ sugar, beating until combined. Add vanilla and chocolate, beating until smooth. Gradually add cream, beating until frosting reaches a spreadable consistency.
Recipe by Southern Lady Magazine at https://southernladymagazine.com/red-velvet-sheet-cake-recipe/